AML Bitcoin Conference 2015 Recap

With over 100 people in attendance the first annual AML Bitcoin Conference drew in quite a large crowd. With the venue being located in Warsaw, Poland, it was fairly accessible for people all over the world to attend this conference. But what makes this group of attendees even more interesting is how they represented a wide diversity of backgrounds and aspects of life.

Ranging from government officials to investors, merchants to people active in the financial sector, and regular enthusiasts looking to find out more about the AML Bitcoin project, these attendees represented a good mix of various sectors. It is positive to note there are people with a real genuine interest in AML Bitcoin because this project deserves more praise than it has been getting so far.

Additionally, several of the attendees are curious to see how AML Bitcoin will keep evolving over the next few years. They firmly believe this digital currency can become a global currency in due time. Whether or not this will be the case remains to be seen. People active in the world of Bitcoin and other digital currencies may disagree with the atttendees opinion, but there is no reason there can’t be multiple valuable digital currencies in the world.

AML Bitcoin is somewhat of an odd creature in the world of cryptocurrencies, as this project is focusing on being regulatory compliant unlike any other coin has done before. Especially where Anti-Money Laundering and Know Your Customer regulations are concerned, AML Bitcoin is keeping a tight lid on who can purchase this currency and who can not. Those who are interested in purchasing AML Bitcoin will have to go through a verification procedure.

One of the topics brought up during these KYC/AML topics was how all Bitcoins in circulation have been tainted due to being used in illegal activities at some point. Even freshly mined coins can be sent to an exchange wallet where tainted funds are stored, making the new coins “tainted by association”.

For most people this does not seem to be an issue anyone should be worrying about right now. However, government officials are having a hard time getting past this ideology, due to it being one of the main reasons why Bitcoin is being so intensely scrutinized regarding regulation. AML Bitcoin is different in this regard, as it is possible to identify coin holders at any given time.

On this same topic, the AML Bitcoin Foundation (NAC) is planning to work directly with global governments to report any suspicious activity occurring within the AML Bitcoin ecosystem. Digital currency was never designed to be used for illegal activities and AML Bitcoin is taking things one step further than most other alternatives in existence today.

 

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